Clears

A FERC administrative law judge has found no improprieties, nor evidence of the exercise of market power in negotiated rate contracts between Transwestern Pipeline and two shippers on its system, which resulted in the shippers being charged as much as $27/MMBtu last February, far in excess of the pipeline’s allowed transportation rate of 38 cents/MMBtu (RP97-288-009).

U.S. energy trader Dynegy saw its second quarter income rise 60% as electricity and natural gas prices surged in North America, but as important, CEO Chuck Watson said last week he expects to see the Houston-based company continue to profit, despite sagging energy prices. Watson told analysts during a conference call that Dynegy’s capital investments are “setting up our success for the future,” reiterating that the “strategy has always been about being prepared.”

U.S. energy trader Dynegy saw its second quarter income rise 60% as electricity and natural gas prices surged in North America, but as important, CEO Chuck Watson said Tuesday he expects to see the Houston-based company continue to profit, despite sagging energy prices. Watson told analysts during a conference call that Dynegy’s capital investments are “setting up our success for the future,” reiterating that the “strategy has always been about being prepared.”

Only two weeks after it had launched its friendly takeover bid of Gulf Canada Resources Ltd., Conoco Inc. reported on Wednesday that the Canadian Commissioner of Competition issued an advanced ruling certificate to the company, allowing the acquisition to go forward without the requirement of any further approvals under the Canadian Competition Act.

Williams Cos. was granted early termination of the regulatory waiting period under antitrust laws this week, clearing the way for its proposed acquisition of Denver-based Barrett Resources. Under terms of the agreement announced last month (see Daily GPI, May 8), Williams made a cash tender offer to purchase 16 million shares of Barrett stock at $73 a share. The offer expires June 11.

Legislation to create a Montana power authority that would be allowed to, among other things, acquire electrical generation facilities, recently cleared the Montana legislature. A state lawmaker who sponsored the measure expressed confidence the bill (HB 474) would be signed into law by the governor no later than May 10.

Legislation to create a Montana power authority that would be allowed to, among other things, acquire electrical generation facilities, recently cleared the Montana legislature. A state lawmaker who sponsored the measure expressed confidence the HB 474 would be signed into law by the governor no later than May 10.

A recent decision by the Indiana Utility Regulatory Commission (IURC) has cleared the way for a Cinergy Capital & Trading (CC&T) Inc. subsidiary to start construction on a 130 MW, gas-fired electric peaking facility in Indiana.

By a vote of 98-0, the Senate yesterday voted out apipeline-safety bill that essentially mirrors the legislation thatwas passed last year, with one “significant” change – it wouldrequire natural gas and hazardous liquid pipelines to undergosafety inspections every five years. But, as with any Capitol Hilllegislation, it would allow waivers under certain circumstances.